Total Gut Reno
I’m looking at purchasing a 3-family total gut renovation. The exterior looks great but there has not been a roof on the building for at least a year and the interior is destroyed. Two questions: 1) Is it possible to complete construction in 6 months (a requirement of the financing). I just want to build…
I’m looking at purchasing a 3-family total gut renovation. The exterior looks great but there has not been a roof on the building for at least a year and the interior is destroyed. Two questions:
1) Is it possible to complete construction in 6 months (a requirement of the financing). I just want to build to rental spec.
2) Is this salvagable? Mold, etc?
I know I need to hire some professionals but has anyone had any experience with a renovation of this extent (three floors and bsmt)?
This is a major renovation and although 6 months is a very tight time frame my neighbor had a similar renovation done last year. I know that he was very pleased with the results and his place looks great. The company he used was BN Express. I personally used them once too and I am quite certain that they can complete it within the time frame. Just to be certain you should contact them at: 1646-945-7315. The contractor is very competent and efficient. Best of luck.
http://www.skylandus.com/residential.html
It is very important that you work with someone whoa finishes the job. Believe me the best are those that work out of Long Island City. Prices are fair. As an architect your work can be done in-house and you will save money. Try these guys, I have worked with them and like thier disposition and capability.
myrnett … retired Architect … myrnett@gmail.com
Call GM Construction and Renovation. They’ve done a couple gut renos in the slope, and from what I’ve seen, have done pretty nice work. Talk to Mohammed, they have a pretty decent size crew and I’m sure he can work something out with your time contsraints.
718-873-9493
Whether or not $400k is doable, I wouldn’t lock myself into best case scenarios on cost, either. Make sure you have financial room to deal with contingencies. These things rarely go as planned in terms of time or money. Everyone thinks they are the exception, but no one really is.
Just say no to deadline-tied financing. The DOB is out of control lately and any small violation could set you back months.
The probability of compeleting a gut reno in 6 months is very low. While you may have all your ducks lined up prior to start of borrowing period gut renos usually suprise you with some unknowns and risk of stop work order(s) being issued if adjacent property owners/tenants don’t like what is going on is something to consider. How big is the property? $400k sounds kind of tight.
As somebody who gutted a house, 1 – agree with slopefarm – you shouldn’t be tied to a deadline with financing (you are just going to get screwed); 2 – six months is really tight; and 3 – $400k is totally possible as long as you are doing all of your own sourcing for most of the materials (fixtures, floors, paints, kitchen and bathroom cabs, etc).
I have a double duplex gut renovated in 2005. About $300K with med-high end fixtures. I worked with a very reliable and honest construction company. They got the job done in 4 months. They worked 6 dyas a week from 9-5pm. Since then, I have recommended a lot of clients to him. Email me at invasian07@yahoo.com if you need further assistance.
It is possible to complete a project like this in 6 months as long as…
1. There is NO change in the certificate of occupancy when the project is started
2. All finish materials are selected and purchased before project start
3. There are NO changes during the project.
As for the financing, it’s the first we’ve heard of a 6 month time limit. Usually the banks will go with the contractors time schedule as we have experienced. In regards to what is salvageable or your budget, a site visit would be best in order to accurately answer those questions.
Please feel free to call me if you have any other questions.
Pietro Calabretta
AllRenovation Construction LLC
718-351-4099
http://www.allrenovationllc.com